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May 11, 2007 at 10:45:52

Gap between rich and the rest must be narrowed

by Jerry West Page 2 of 2 page(s)

www.opednews.com

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Regressive economists who make a living apologizing for the rich will tell you that making people wealthy is good because a rising tide raises all boats. They obviously do not understand the tides or they wouldn't push that metaphor. Tides, as we know, rise in one place as they drop in another. Some boats go up while others go down.

A simple examination of the income spread in society will tell you which way the tide is flowing. The challenge is to manage the flow so that it goes neither too high nor too low.

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http://www.island.net/~record/

Jerry West is Editor and Publisher of THE RECORD newspaper in Gold River, BC. Graduate with Honors, UC Berkeley. Former Sgt. USMC

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1 comments

Robert Chapman is greatly interested in developing political awareness among as many people as possible.
Robert ChapmanRobert Chapman is greatly interested in developing political awareness among as many people as possible.

Gap between rich and the rest must be narrowed

I agree heartily with the statement made in the title of this article and with Mr. West's remarks about raising the minimum wage.

Three additional proposals:

a national consumption aimed at spending- this can be offset by lowering the taxes on savings and capital gains, two investment activities.

Elimination of withholding taxes for taxpayers earning less than US $ 30,000 per annum.

A progressive graduated income tax kicking in after $ 150, 000 per year and applicable to social security and medicare taxes as well as income/consumption taxes.

These measures will make our tax fairer and more progressive and will begin to reduce the obscene and growing gap between the middle class and the rich.

Robert Chapman

by Robert Chapman (28 articles, 0 quicklinks, 2 diaries, 556 comments) on Friday, May 11, 2007 at 5:58:55 PM